Monitor for early lock-up releases or waivers, which would trigger pro-rata releases for all former Alkeus equityholders. The lock-up expires approximately early November 2026, after which selling pressure from up to 2.9M shares could materialize.
Price Chart
Executive Summary
Tarsus Pharmaceuticals filed an automatic shelf registration statement (S-3ASR) to register up to 2,908,692 shares of common stock for resale by selling stockholders. These shares were issued as consideration for the acquisition of Alkeus Pharmaceuticals, which closed on September 4, 2026. The company will not receive any proceeds from the resale, and most shares are subject to lock-up restrictions expiring in early November 2026.
Key Facts
- S-3ASR registers up to 2,908,692 shares for resale by former Alkeus stockholders
- Shares were issued as consideration for the Alkeus acquisition closed Sept 4, 2026
- Company receives no proceeds from any resale
- Approximately 2,630,416 shares subject to 2-month lock-up from Sept 4, 2026 closing
- Approximately 1,994,414 shares subject to volume limitations for 3 months after lock-up
- Approximately 278,276 shares not subject to lock-up or volume limitations
- Last reported stock price on Oct 12, 2026 was $74.40 per share
- Maximum aggregate offering price calculated at ~$211.3M based on $72.66 reference price
Financial Impact
Up to ~$211.3 million in potential selling pressure at the reference price of $72.66 per share, though most shares are locked up until early November 2026
Risk Factors
- Potential overhang from up to 2.9M shares becoming tradable after lock-up expiration
- Early release provisions could accelerate selling pressure
- Volume limitations on ~2M shares may concentrate selling over a defined period
Investment Themes
Documents Analyzed
This report is based on 8 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| S-3ASR Filing (Primary) | 0001193125-26-420618 |
| Document: d158620dexfilingfees.htm | 0001193125-26-420618 |
| Document: d158620dex51.htm | 0001193125-26-420618 |
| Document: d158620dex231.htm | 0001193125-26-420618 |
| Document: d158620dex232.htm | 0001193125-26-420618 |
| Document: 0001193125-26-420618-index-headers.html | 0001193125-26-420618 |
| Document: 0001193125-26-420618-index.html | 0001193125-26-420618 |
| Document: 0001193125-26-420618.txt | 0001193125-26-420618 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 16, 2026 9d ago | Institutional Cluster | $69.50 | awaiting T+5 | — | $70.01 (+0.73%) |
Oct 13, 2026 12d ago | S-3ASR | $72.29 $70.50 | ▼ −2.48% | ▼ −2.93% | $70.01 (−3.15%) |
Oct 13, 2026 12d ago | S-3ASR | $72.29 $70.50 | ▼ −2.48% | ▼ −2.93% | $70.01 (−3.15%) |
Sep 9, 2026 6w ago | Insider Cluster | $81.12 $79.03 | ▼ −2.58% | ▼ −3.21% | $70.01 (−13.70%) |
Sep 3, 2026 7w ago | Insider Cluster | $90.78 $79.95 | ▼ −11.93% | ▼ −10.72% | $70.01 (−22.88%) |
Sep 2, 2026 7w ago | 144 | $82.76 $81.12 | ▲ +1.98% | ▲ +1.02% | $70.01 (+15.41%) |
Sep 1, 2026 7w ago | 144 | $82.76 $81.12 | ▲ +1.98% | ▲ +1.02% | $70.01 (+15.41%) |
Aug 19, 2026 9w ago | 144 | $73.44 $70.65 | ▼ −3.80% | ▼ −3.41% | $70.01 (−4.67%) |
Aug 6, 2026 11w ago | 8-K | $65.33 $68.88 | ▲ +5.43% | ▲ +4.22% | $70.01 (+7.16%) |
Aug 6, 2026 11w ago | 8-K | $65.33 $68.88 | ▲ +5.43% | ▲ +4.22% | $70.01 (+7.16%) |
US Market Status
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